Siemens considers buying parts of Rolls-Royce energy unit -sources

Reuters

April 29 (Reuters) - Germany's Siemens AG is considering paying just under 1 billion euros ($1.38 billion) for a unit of Britain's Rolls-Royce that makes equipment for the oil and gas industry and power-generation gear for utilities, sources familiar with the matter said.

Siemens is interested in Rolls-Royce's energy businesses outside of the nuclear industry, according to the sources.

The news comes on the same day Siemens said it would make an offer for French engineering group Alstom's power business if it is given enough time to draw up a detailed plan to rival a bid by General Electric.

Both Siemens and Rolls-Royce declined to comment.

Rolls-Royce's energy division posted underlying revenue of 1.05 billion pounds ($1.77 billion) in 2013, including its nuclear operations.

Sources said the talks between Rolls-Royce and Siemens had been going on long before the Alstom deal cropped up. ($1 = 0.5936 British Pounds) (Reporting by Richa Naidu in Bangalore, Brenda Goh in London and Arno Schuetze in Frankfurt Additional reporting by Maria Sheahan in Frankfurt and Anjuli Davies in London; Editing by Robin Pomeroy)

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